Polymath (POLY) Wins Binance’s Community Listing and Jumps 33 %
The price of Polymath (POLY), a security token issuing platform, jumped over 33% today after it was announced that the project won the Community Coin of July, listing on Binance, the world’s most popular cryptocurrency exchange at the moment.
— Binance (@binance) July 31, 2018
Binance will open trading for POLY/BTC and POLY/BNB trading pairs on July 31 at 10:00 AM (UTC) and users can now start depositing POLY in preparation for trading. Notably, this round of the Community Coin voting was thrown into controversy after allegations of illicit voting activity. However, Binance noted that the activity was identified and all votes were nullified.
We have weighed all factors in the voting process and have also applied a consistent methodology across all candidate votes to filter for oddities according to our community vote rules.
The price of POLY surged after the announcement, jumping from $0.381 to $0.561, before falling back to $0.397, price where is now. POLY is currently listed on KuCoin, Huobi and Bittrex with a market cap of $109 million, placing it in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.